Hyundai Heavy & Magna E-Car Systems to develop lithium-ion battery

Hyundai Heavy Industries (HHI), and Magna E-Car Systems (Magna E-Car), a supplier of components and systems for hybrid and electric vehicles, have announced a joint venture named Mahy E-Cell as a platform to co-develop and grow a successful battery cell and battery pack business. Under the agreement, HHI and Magna E-Car will jointly conduct engineering, design, development and testing activities with the goal of preliminary validation of battery cell and battery pack technologies for electric and hybrid ele
April 19, 2012 Read time: 2 mins
1684 Hyundai Heavy Industries (HHI), and 5026 Magna E-Car Systems (Magna E-Car), a supplier of components and systems for hybrid and electric vehicles, have announced a joint venture named Mahy E-Cell as a platform to co-develop and grow a successful battery cell and battery pack business. Under the agreement, HHI and Magna E-Car will jointly conduct engineering, design, development and testing activities with the goal of preliminary validation of battery cell and battery pack technologies for electric and hybrid electric vehicle applications. The joint venture will be owned 60 per cent by Magna E-Car and 40 per cent by HHI.

HHI expects the establishment of MAHY E-CELL to serve as a stepping stone to enter the Energy Storage System business and plans to link its solar and wind power business with ESS as a new growth engine. According to Lee Choong-dong, COO of HHI's Green Energy Division, "The establishment of Mahy E-Cell is a reflection of Hyundai Heavy's determination to become a leading eco-friendly integrated energy company by advancing into Europe and North America's electric car batteries market and ESS business. We see solar energy, wind power, and energy storage systems as integral to our future growth."

For more information on companies in this article

Related Content

  • Intelligent intersection control
    April 12, 2013
    Intelligent intersection control systems have a growing role to play in making urban traffic more efficient. Robin Meczes reports. The idea of every traffic light turning green as you approach it has long been a dream for many an urban driver – and none more so than those driving heavy goods vehicles (HGVs), which are slow and difficult to bring to a halt and then accelerate back to normal travel speed. But that dream has become a reality for some drivers in a small number of cities around Europe in the las
    Read More
  • Is machine vision the future of enforcement?
    January 25, 2012
    Leading automated enforcement system suppliers talk about how they see machine vision technology affecting the sector in the coming years
    Read More
  • Copenhagen to showcase ITS in action at ITSWC 2018
    December 18, 2017
    As delegates head for the 2017 ITS World Congress in Montreal, we talk to Copenhagen mayor Morten Kabell about why his city is the ideal location for next year’s event. It may have been a long time coming but the ITS World Congress will be in Copenhagen in 2018 and there can be few more fitting places to host the event. By any number of metrics - interconnected transport, cycle commuting, safer streets, reduced pollution, sustainable energy and quality of life - the Danish capital has implemented what m
    Read More
  • Ertico partners in step for Europe-wide cooperative traffic systems
    December 5, 2012
    According to Ertico, the future of traffic management on urban and inter-urban networks will rely on direct communication and interaction between vehicles and the infrastructure, using new technologies called cooperative intelligent transport systems (C-ITS) that support real-time exchange of traffic data. This cooperation can enable a wide range of applications such as vehicle-sourced data collection, green light and speed advice, automated hazard detection, selective vehicle priority, dynamic city logisti
    Read More

Highlighted Content